WarrCloud, a St.Louis, MO-based provider of an automated warranty processing platform, raised $20m in Series B Funding.
The round was led by Centana Growth Partners, with participation from return investors Argentum, and Automotive Ventures.
The company intends to use the funds to accelerate investments in AI technology that further enhance warranty claims automation.
Led by CEO and Founder Jim Roche, WarrCloud provides a technology platform that leverages AI to automate warranty claims processing in the automotive industry. This level of automation gives dealers a newfound ability to reclaim profits and reduce the reliance on a shrinking labor pool and provides manufacturers access to warranty data that can now be analyzed to improve manufacturing processes, reduce costs, and improve vehicle quality, all of which leads to increased customer satisfaction.
In 2024, WarrCloud announced partnerships with FordDirect, the Missouri Automobile Dealers Association (MADA), and American International Automobile Dealers Association (AIADA).
The Series B funding round follows WarrCloud’s $6.5m Series A funding round in November 2023. In total, the company has raised $40m since it was introduced to the market in 2021.
FinSMEs
22/10/2024